Lawstreet Journal

SC reserved its order on Future's plea for quashing of bank notices threatening insolvency proceedings

Lawstreet Journal 8 Feb 2022 4:55pm

Image courtesy: Lawstreet Journal Judiciary SC reserved its order on Future's plea for quashing of bank notices threatening insolvency proceedings

Five days after the SC reserved its order on Future's plea for quashing of bank notices threatening insolvency proceedings, Amazon sought permission to file a 7-page written submission irking the SC bench headed by CJI N V Ramana.

CJI Ramana said this is a tactics to drag on a 'luxury' litigation between parties and asked counsel for Amazon if it was trying to undermine the understanding of the court in understanding the arguments of Amazon.

CJI said order is getting ready and Amazon wants to file a 7-page written submission. He said in that case Future should also be  given a chance to file counter written submission. "Where is this going to end? It is better not to hear these luxury litigations," he said.

CJI said we do not agree with this practice. Future counsel K V Vishwanathan said this is an unfair practice and that he is opposing Amazon's request. They should have requested for filing of written submission the day SC reserved verdict, he said.

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Tagged: Insolvency and Bankruptcy Code   Insolvency and Bankruptcy Board of India  
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